Blog: Ajinomoto sets out growth ambitions
Petah Marian | 9 March 2011
Ajinomoto is emphasising its growth ambitions, with the Japanese food ingredients maker's president Masatoshi Ito saying it may spend JPY300bn (US$3.6bn) on acquisitions in the next three years at it expands internationally.
Speaking to Bloomberg on Monday (7 March), Ito said: "We want to beef up our strong areas like Brazil and [the] south-east Asian countries, as well as expand in new markets such as the Middle East and Africa.
"We're allowing ourselves the luxury of being picky about which company to buy. It's not easy because we are looking for companies that have high odds of being successful."
The interview follows the company's announcement in February that it plans to grow its operating profit by more than a quarter by fiscal 2013. It said it aims to record JPY87bn operating profit in fiscal 2013, up from an expected JPY69bn in operating profit this year.
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